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NBER Macroeconomics Annual, 2011 Three shocks, distinguished by whether their effects are permanent or transitory, are identified to characterize the post-war dynamics of aggregate consumer spending, labor earnings, and household wealth. The first shock accounts for virtually all of the variation in consumption; we argue that it can be plausibly interpreted as a permanent total factor
Martin Lettau +4 more
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Econometrica, 2002 We present a model in which an asset bubble can persist despite the presence of rational arbitrageurs. The resilience of the bubble stems from the inability of arbitrageurs to temporarily coordinate their selling strategies. This synchronization problem together with the individual incentive to time the market results in the persistence of bubbles over
Dilip Abreu, Markus K. Brunnermeier
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Powerful CEOs and Stock Price Crash Risk
Journal of Corporate Finance, 2020We find that powerful chief executive officers (CEOs) are associated with higher crash risk. The positive association between CEO power and crash risk holds when controlling for earnings management, tax avoidance, chief executive officer's option ...
MD Al Mamun +2 more
semanticscholar +1 more source
JAMA: The Journal of the American Medical Association, 1988
To the Editor.— National events touch all our lives in different ways. One event caused a delay in diagnosis as an emergency department staff assumed that the physical illness of a patient was a psychological response to the events of the day. Report of a Case.— A 32-year-old female stockbroker was brought by rescue to an emergency department when ...
Joseph P. D'Afflitti, Janet S. Richmond
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To the Editor.— National events touch all our lives in different ways. One event caused a delay in diagnosis as an emergency department staff assumed that the physical illness of a patient was a psychological response to the events of the day. Report of a Case.— A 32-year-old female stockbroker was brought by rescue to an emergency department when ...
Joseph P. D'Afflitti, Janet S. Richmond
openaire +2 more sources
CEO Early-Life Disaster Experience and Stock Price Crash Risk
Journal of Corporate Finance, 2020An emerging stream of research documents that experience of traumatic events early in a CEO’s life influences the firm’s investment and financing choices.
Yangyang Chen +3 more
semanticscholar +1 more source
The Great Crash, The Oil Price Shock And The Unit Root Hypothesis
, 1989The unit root hypothesis is examined allowing a possible one-time change in the level or in the slope of the trend function. When fluctuations are stationary around a breaking trend function, standard tests cannot reject the unit root, even ...
Pierre Perron
semanticscholar +1 more source
Moped Crashes are Just as Dangerous as Motorcycle Crashes [PDF]
The American Surgeon™, 2018 Mopeds’ (MP) limited speed gives the impression that they are safer than motorcycles (MCs), but factors other than speed may contribute to crash outcome. Records of patients involved in MC or MP crashes evaluated at the University of Louisville Hospital emergency department between 2010 and 2014 were reviewed.
Keith R. Miller +3 more
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Crash involvement of drivers with multiple crashes
Accident Analysis & Prevention, 2006A goal for any licensing agency is the ability to identify high-risk drivers. Kentucky data show that a significant number of drivers are repeatedly involved in crashes. The objective of this study is the development of a crash prediction model that can be used to estimate the likelihood of a driver being at fault for a near future crash occurrence ...
Arnold J. Stromberg +2 more
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Crash Mitigation in Motion Planning for Autonomous Vehicles
IEEE transactions on intelligent transportation systems (Print), 2019A motion planning method for autonomous vehicles confronting emergency situations where collision is inevitable, generating a path to mitigate the crash as much as possible, is proposed in this paper.
Hong Wang +5 more
semanticscholar +1 more source
Journal of Financial Economics, 2019
This paper investigates whether multivariate crash risk (MCRASH), defined as exposure to extreme realizations of multiple systematic factors, is priced in the cross-section of expected stock returns. We derive an extended linear model with a positive premium for MCRASH and we empirically confirm that stocks with high MCRASH earn significantly higher ...
Markus Huggenberger +3 more
openaire +12 more sources
This paper investigates whether multivariate crash risk (MCRASH), defined as exposure to extreme realizations of multiple systematic factors, is priced in the cross-section of expected stock returns. We derive an extended linear model with a positive premium for MCRASH and we empirically confirm that stocks with high MCRASH earn significantly higher ...
Markus Huggenberger +3 more
openaire +12 more sources